Adverum Biotechnologies, Inc., a clinical-stage gene therapy company, develops gene therapy product candidates to treat ocular and rare diseases. Its lead product candidate is ADVM-022, a single intravitreal injection gene therapy candidate used for the treatment of patients with chronic retinal diseases, including wet age-related macular degeneration and diabetic macular edema. Adverum Biotechnologies, Inc. has license and collaboration agreements with University of California; Cornell University; GenSight; Lexeo; and Virovek. The company was formerly known as Avalanche Biotechnologies, Inc. and changed its name to Adverum Biotechnologies, Inc. in May 2016. Adverum Biotechnologies, Inc. was incorporated in 2006 and is headquartered in Redwood City, California.
IPO Year: 2014
Exchange: NASDAQ
Website: adverum.com
| Date | Price Target | Rating | Analyst |
|---|---|---|---|
| 6/25/2024 | $25.00 | Outperform | Oppenheimer |
| 4/30/2024 | $30.00 | Buy | H.C. Wainwright |
| 7/7/2022 | $4.00 | Hold → Buy | Truist |
| 7/23/2021 | Hold → Neutral | Cantor Fitzgerald | |
| 7/23/2021 | $23.00 → $3.00 | Overweight → Neutral | Cantor Fitzgerald |
| 7/23/2021 | $5.00 → $2.00 | Market Perform | SVB Leerink |
Oppenheimer initiated coverage of Adverum Biotech with a rating of Outperform and set a new price target of $25.00
H.C. Wainwright initiated coverage of Adverum Biotech with a rating of Buy and set a new price target of $30.00
Truist upgraded Adverum Biotech from Hold to Buy and set a new price target of $4.00
Cantor Fitzgerald downgraded Adverum Biotech from Hold to Neutral
Cantor Fitzgerald downgraded Adverum Biotechnologies from Overweight to Neutral and set a new price target of $3.00 from $23.00 previously
SVB Leerink reiterated coverage of Adverum Biotechnologies with a rating of Market Perform and set a new price target of $2.00 from $5.00 previously
SVB Leerink downgraded Adverum Biotech from Outperform to Mkt Perform and set a new price target of $5.00
Chardan Capital downgraded Adverum Biotechnologies from Buy to Neutral and set a new price target of $5.00 from $20.00 previously
Truist downgraded Adverum Biotech from Buy to Hold and set a new price target of $9.00 from $30.00 previously
RBC Capital Mkts downgraded Adverum Biotech from Outperform to Sector Perform and set a new price target of $6.00
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8-K - Adverum Biotechnologies, Inc. (0001501756) (Filer)
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10-Q - Adverum Biotechnologies, Inc. (0001501756) (Filer)
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8-K - Adverum Biotechnologies, Inc. (0001501756) (Filer)
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8-K - Adverum Biotechnologies, Inc. (0001501756) (Filer)
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REDWOOD CITY, Calif., July 10, 2024 (GLOBE NEWSWIRE) -- Adverum Biotechnologies, Inc. (NASDAQ:ADVM), a clinical-stage company pioneering the use of gene therapy as a new standard of care for highly prevalent ocular diseases, today announced that the company will host a webcast to review the interim 26-week landmark data from its ongoing LUNA Phase 2 study of ixoberogene soroparvovec (Ixo-vec) for the treatment of wet age-related macular degeneration (wet AMD) being presented at the American Society of Retina Specialists (ASRS) Annual Scientific Meeting. The webcast will be held on Wednesday, July 17 at 8:00 a.m. ET and will include a presentation from Dr. Charles C. Wykoff, Director of Res
- Preliminary safety and efficacy data from ongoing LUNA Phase 2 study of Ixo-vec for the treatment of wet AMD will be presented at the 47th Annual Meeting of the Macula Society, with company-sponsored webcast on Thursday, February 8, 2024 at 8:00am ET - REDWOOD CITY, Calif., Feb. 01, 2024 (GLOBE NEWSWIRE) -- Adverum Biotechnologies, Inc. (NASDAQ:ADVM), a clinical-stage company that aims to establish gene therapy as a new standard of care for highly prevalent ocular diseases, today announced that the company will host a webcast to review preliminary efficacy and safety data from its ongoing LUNA Phase 2 study of ixoberogene soroparvovec (Ixo-vec) for the treatment of wet age-related
REDWOOD CITY, Calif., Dec. 07, 2023 (GLOBE NEWSWIRE) -- Adverum Biotechnologies, Inc. (NASDAQ:ADVM), a clinical-stage company that aims to establish gene therapy as a new standard of care for highly prevalent ocular diseases, today announced the initial LUNA preliminary efficacy and safety data will be presented at the upcoming 47th Annual Meeting of the Macula Society, being held February 7 – 10, 2024. "We are very pleased to have the opportunity to present our initial Phase 2 efficacy and safety data from the LUNA study at the Macula Society meeting" stated Laurent Fischer, M.D., president and chief executive officer of Adverum Biotechnologies. "We recently received confirmation that ou
-- Based on latest analyses, company is revising ADVM-022 development plan to focus on wet AMD and low doses (2 x 10^11 vg/eye and lower); no longer planning development for DME -- -- Company to host conference call and webcast today at 1:30 pm PT / 4:30 pm ET -- REDWOOD CITY, Calif., July 22, 2021 (GLOBE NEWSWIRE) -- Adverum Biotechnologies, Inc. (NASDAQ:ADVM), a clinical-stage gene therapy company targeting unmet medical needs in ocular and rare diseases, today provided an update on the ADVM-022 development program following a thorough review of data available from the INFINITY clinical trial in patients with diabetic macular edema (DME) and the OPTIC clinical trial in patients with we
REDWOOD CITY, Calif., Nov. 20, 2024 (GLOBE NEWSWIRE) -- Adverum Biotechnologies, Inc. (NASDAQ:ADVM) today announced that on November 17, 2024, the Compensation Committee of Adverum's Board of Directors granted an inducement award consisting of non-qualified stock options to purchase 55,000 shares of common stock to a new employee under Adverum's 2017 Inducement Plan. The Compensation Committee of Adverum's Board of Directors approved the award as an inducement material to the new employee's employment in accordance with Nasdaq Listing Rule 5635(c)(4). The stock option has an exercise price per share equal to $6.86, Adverum's closing trading price on November 15, 2024, and will vest over f
- 52-week LUNA data combined with follow-up from OPTIC at 4 years continue to support long-term potential best-in-class product profile of Ixo-vec - 6E10 dose in LUNA maintains visual and anatomic endpoints and demonstrates potential best-in-class injection-free rates and reduction in injection burden - No LUNA patients who received local steroid prophylaxis had inflammation at week 52 or at any subsequent visit, and 100% of OPTIC 2E11 patients were free of inflammation at year 1 and through year 4 - 6E10 with steroid eye drops or topical steroids to progress into two registrational studies; initial ARTEMIS Phase 3 non-inferiority study will evaluate
– Investor & analyst webcast, including a key opinion leader panel, to be held Monday, November 18th at 7:30 a.m. EST REDWOOD CITY, Calif., Nov. 15, 2024 (GLOBE NEWSWIRE) -- Adverum Biotechnologies, Inc. (NASDAQ:ADVM), a clinical-stage company pioneering the use of gene therapy to preserve sight for life in highly prevalent ocular diseases, plans to host a webcast to report 52-week LUNA phase 2 clinical data and 4-year OPTIC clinical data, and to provide key pivotal program design elements Monday, November 18th at 7:30 a.m. EST. Webcast Details The live webcast will be accessible under Events and Presentations in the Investors section of the company's website. Listeners can access
- 52-week LUNA and 4-year OPTIC data, alongside Phase 3 trial design updates, anticipated in Q4 2024 - Appointed Jason Mitchell as chief commercial officer - On track to initiate pivotal program in 1H 2025 - $153.2 million in cash, cash equivalents and short-term investments expected to fund operations into late 2025 REDWOOD CITY, Calif., Nov. 04, 2024 (GLOBE NEWSWIRE) -- Adverum Biotechnologies, Inc. (NASDAQ:ADVM), a clinical-stage company pioneering the use of gene therapy as a new standard of care for highly prevalent ocular diseases, today reported financial results for the third quarter of 2024 and provided updates to anticipated milestones. "We remain laser focused on initiating
REDWOOD CITY, Calif., Oct. 16, 2024 (GLOBE NEWSWIRE) -- Adverum Biotechnologies, Inc. (NASDAQ:ADVM), a company pioneering the use of gene therapy as a new standard of care for highly prevalent ocular diseases, today announced the appointment of Jason L. Mitchell as chief commercial officer. Mr Mitchell brings to Adverum over 20 years of commercial experience, including in retinal disease, and most recently oversaw the successful launch of SYFOVRE® in geographic atrophy (GA). In his new role, Mr. Mitchell will be responsible for setting the launch strategy and building the commercial infrastructure for ixoberogene soroparvovec (Ixo-vec), Adverum's potential one-time intravitreal (IVT) injec
REDWOOD CITY, Calif., Sept. 05, 2024 (GLOBE NEWSWIRE) -- Adverum Biotechnologies, Inc. (NASDAQ:ADVM) today announced that on September 3, 2024, the Compensation Committee of Adverum's Board of Directors granted inducement awards consisting of non-qualified stock options to purchase 12,660 shares of common stock and restricted stock units (RSUs) for 6,330 shares of common stock to 3 new employees under Adverum's 2017 Inducement Plan. The Compensation Committee of Adverum's Board of Directors approved the awards as an inducement material to the new employees' employment in accordance with Nasdaq Listing Rule 5635(c)(4). Each stock option has an exercise price per share equal to $6.76 per sh
REDWOOD CITY, Calif., Sept. 04, 2024 (GLOBE NEWSWIRE) -- Adverum Biotechnologies, Inc. (NASDAQ:ADVM), a clinical-stage company pioneering the use of gene therapy as a new standard of care for highly prevalent ocular diseases, today announced that the company will present at the following upcoming investor conferences: H.C. Wainwright 26th Annual Global Investment Conference on Tuesday, September 10th at 3:30 p.m. ET.Chardan's 8th Annual Genetic Medicines Conference on Tuesday, October 1st at 8:00 a.m. E.T.UBS Virtual Ophthalmology Day on Wednesday, October 2nd at 10:30 a.m. ET. The on-demand webcasts may be accessed under Events and Presentations in the Investors section of Adverum's web
- 6E10 dose of Ixo-vec selected for Phase 3 pivotal trials - LUNA 26-week interim analysis presented at ASRS 2024 demonstrating a potential best-in-class product profile of Ixo-vec, with similar efficacy and a favorable safety profile compared to OPTIC - LUNA 9-month landmark analysis and pivotal trial design update anticipated in 4Q 2024 - $173.8 million in cash, cash equivalents and short-term investments expected to fund operations into late 2025 REDWOOD CITY, Calif., Aug. 12, 2024 (GLOBE NEWSWIRE) -- Adverum Biotechnologies, Inc. (NASDAQ:ADVM), a clinical-stage company pioneering the use of gene therapy as a new standard of care for highly prevalent ocular diseases, today reporte
REDWOOD CITY, Calif., Aug. 02, 2024 (GLOBE NEWSWIRE) -- Adverum Biotechnologies, Inc. (NASDAQ:ADVM), a clinical-stage company pioneering the use of gene therapy as a new standard of care for highly prevalent ocular diseases, today announced that Laurent Fischer, M.D., president and chief executive officer of Adverum Biotechnologies, will participate in a fireside chat at the H.C. Wainwright 4th Annual Ophthalmology Virtual Conference on August 15, 2024 at 2:00 p.m. ET. The webcast of the fireside chat may be accessed under Events and Presentations in the Investors section of Adverum's website. A replay of the webcast will be available on the website for at least 30 days following the pr
REDWOOD CITY, Calif., Aug. 01, 2024 (GLOBE NEWSWIRE) -- Adverum Biotechnologies, Inc. (NASDAQ:ADVM), a clinical-stage company pioneering the use of gene therapy as a new standard of care for highly prevalent ocular diseases, today announced that the U.S. Food and Drug Administration (FDA) has granted Regenerative Medicine Advanced Therapy (RMAT) designation for Ixo-vec, its clinical-stage gene therapy product candidate, for the treatment of wet AMD. "The RMAT designation is based on the clinical data from Ixo-vec to date and recognizes the transformative potential of our gene therapy for patients with wet AMD," stated Laurent Fischer, M.D., president and chief executive officer of Adverum
Although U.S. stocks closed lower on Thursday, there were a few notable insider trades. When insiders purchase shares, it indicates their confidence in the company’s prospects or that they view the stock as a bargain. Either way, this signals an opportunity to go long on the stock. Insider purchases should not be taken as the only indicator for making an investment or trading decision. At best, it can lend conviction to a buying decision. Below is a look at a few recent notable insider purchases. For more, check out Benzinga’s insider transactions platform. Adverum Biotechnologies The Trade: Adverum Biotechnologies, Inc. (NASDAQ:ADVM) 10% owner Braden Michael Leonard acquired a
Chardan Capital analyst Daniil Gataulin maintains Adverum Biotechnologies (NASDAQ:ADVM) with a Buy, adjusts target to $40 from $4 ((reverse stock split 1:10)).
Adverum Biotechnologies Inc (NASDAQ:ADVM) released data from its ongoing LUNA Phase 2 trial for Ixo-vec in patients with wet age-related macular degeneration (AMD). The 26-week interim analysis was presented at the American Society of Retinal Specialists Annual Meeting. Adverum is developing ixoberogene soroparvovec (Ixo-vec, formerly ADVM-022), its clinical-stage gene therapy product candidate, for wet AMD. In February, Adverum Biotechnologies released preliminary safety and efficacy data from the ongoing LUNA Phase 2 trial in patients with wet AMD. The LUNA trial enrolled 60 patients with wet AMD across two dose cohorts, 6E10 or 2E11 vg/eye, to inform Phase 3 trial designs.
Shares of ASLAN Pharmaceuticals Limited (NASDAQ:ASLN) fell sharply during Wednesday's session after the company announced that its Singapore-incorporated, sole operating subsidiary has filed for voluntary liquidation. ASLAN Pharmaceuticals shares dipped 38.7% to $0.68 on Wednesday. Here are some other stocks moving in today’s mid-day session. Gainers Aptevo Therapeutics Inc. (NASDAQ:APVO) shares climbed 84% to $0.6073 after surging around 10% on Tuesday. Aptevo Therapeutics recently announced closing of $2.75 million offering. Shimmick Corporation (NASDAQ:SHIM) shares climbed 49% to $3.0173 after the company received a $27.6 million subcontract for the Sunol Valley Water Trea
Shares of Bloom Energy Corporation (NYSE:BE) rose sharply in today's pre-market trading after the company announced a strategic partnership with CoreWeave. Bloom Energy said it entered into a partnership to deploy its proprietary fuel cells to generate on-site power for CoreWeave at a high-performance data center in Illinois. Bloom Energy shares jumped 12.1% to $16.90 in pre-market trading. Here are some other stocks moving in pre-market trading. Gainers Shimmick Corporation (NASDAQ:SHIM) gained 53% to $3.09 in pre-market trading after the company received a $27.6 million subcontract for the Sunol Valley Water Treatment Plant Ozonation Project. Aptevo Therapeutics Inc. (NA
6E10 combined with local prophylaxis selected for Phase 3 pivotal trials, with a favorable safety profile and potential best-in-class product profile at 26 weeks Efficacy: 76% of 6E10 patients were injection free, with maintained visual acuity and fluid control Safety: 100% of 6E10 difluprednate-alone patients had no or minimal inflammation, and none received corticosteroids for treatment of inflammation beyond the scheduled prophylaxis Patient Preference Survey: 88% of patients indicated a preference for Ixo-vec over their prior anti-VEGF injections, and 93% would opt to receive Ixo-vec in the other eye Efficacy and safety with 6E10 at 26-weeks similar to or better than in OPTIC at 2E
Adverum Biotechnologies, Inc. (NASDAQ:ADVM), a clinical-stage company pioneering the use of gene therapy as a new standard of care for highly prevalent ocular diseases, today announced that the company will host a webcast to review the interim 26-week landmark data from its ongoing LUNA Phase 2 study of ixoberogene soroparvovec (Ixo-vec) for the treatment of wet age-related macular degeneration (wet AMD) being presented at the American Society of Retina Specialists (ASRS) Annual Scientific Meeting. The webcast will be held on Wednesday, July 17 at 8:00 a.m. ET and will include a presentation from Dr. Charles C. Wykoff, Director of Research, Retina Consultants of Texas, Professor of Clinical
Oppenheimer analyst Francois Brisebois initiates coverage on Adverum Biotechnologies (NASDAQ:ADVM) with a Outperform rating and announces Price Target of $25.
Truist Securities analyst Joon Lee maintains Adverum Biotechnologies (NASDAQ:ADVM) with a Buy and maintains $60 price target.
HC Wainwright & Co. analyst Matthew Caufield reiterates Adverum Biotechnologies (NASDAQ:ADVM) with a Buy and maintains $30 price target.
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- 52-week LUNA and 4-year OPTIC data, alongside Phase 3 trial design updates, anticipated in Q4 2024 - Appointed Jason Mitchell as chief commercial officer - On track to initiate pivotal program in 1H 2025 - $153.2 million in cash, cash equivalents and short-term investments expected to fund operations into late 2025 REDWOOD CITY, Calif., Nov. 04, 2024 (GLOBE NEWSWIRE) -- Adverum Biotechnologies, Inc. (NASDAQ:ADVM), a clinical-stage company pioneering the use of gene therapy as a new standard of care for highly prevalent ocular diseases, today reported financial results for the third quarter of 2024 and provided updates to anticipated milestones. "We remain laser focused on initiating
REDWOOD CITY, Calif., Oct. 16, 2024 (GLOBE NEWSWIRE) -- Adverum Biotechnologies, Inc. (NASDAQ:ADVM), a company pioneering the use of gene therapy as a new standard of care for highly prevalent ocular diseases, today announced the appointment of Jason L. Mitchell as chief commercial officer. Mr Mitchell brings to Adverum over 20 years of commercial experience, including in retinal disease, and most recently oversaw the successful launch of SYFOVRE® in geographic atrophy (GA). In his new role, Mr. Mitchell will be responsible for setting the launch strategy and building the commercial infrastructure for ixoberogene soroparvovec (Ixo-vec), Adverum's potential one-time intravitreal (IVT) injec
- 6E10 dose of Ixo-vec selected for Phase 3 pivotal trials - LUNA 26-week interim analysis presented at ASRS 2024 demonstrating a potential best-in-class product profile of Ixo-vec, with similar efficacy and a favorable safety profile compared to OPTIC - LUNA 9-month landmark analysis and pivotal trial design update anticipated in 4Q 2024 - $173.8 million in cash, cash equivalents and short-term investments expected to fund operations into late 2025 REDWOOD CITY, Calif., Aug. 12, 2024 (GLOBE NEWSWIRE) -- Adverum Biotechnologies, Inc. (NASDAQ:ADVM), a clinical-stage company pioneering the use of gene therapy as a new standard of care for highly prevalent ocular diseases, today reporte
REDWOOD CITY, Calif., June 11, 2024 (GLOBE NEWSWIRE) -- Adverum Biotechnologies, Inc. (NASDAQ:ADVM), a clinical-stage company pioneering the use of gene therapy as a new standard of care for highly prevalent ocular diseases, today announced the appointments of Dr. Rabia Gurses Ozden to the Company's executive leadership team as chief medical officer and Dr. Szilárd Kiss to the Company's Board of Directors. Dr. Ozden has stepped down from the Company's Board of Directors, with Dr. Kiss filling the existing Board seat. "Adverum has made significant progress in demonstrating Ixo-vec's potential best-in-class profile for patients with wet AMD. As we advance Ixo-vec through the LUNA trial and
REDWOOD CITY, Calif., Jan. 29, 2024 (GLOBE NEWSWIRE) -- Adverum Biotechnologies, Inc. (NASDAQ:ADVM), a clinical-stage company that aims to establish gene therapy as a new standard of care for highly prevalent ocular diseases, today announced that Romuald "Romu" Corbau, Ph.D., has joined Adverum as the company's chief scientific officer. Dr. Corbau will serve as a member of Adverum's executive committee. "On behalf of the entire team at Adverum, I am delighted to welcome Dr. Corbau as the newest member of our executive leadership team. Romu has spent the majority of his career working to deliver on the promise of gene therapy. Earlier in his career, Romu led Spark Therapeutics' translati
- Announced preliminary aflibercept protein levels from the on-going Phase 2 LUNA trial, suggesting that both doses are within the therapeutically active range and consistent with aflibercept levels observed in the OPTIC trial - - Reported OPTIC long-term follow-up data demonstrating that patients continue to experience substantial, long-term benefit from Ixo-vec through 3 years of follow-up - - Initial Phase 2 LUNA efficacy and safety data anticipated in Q4 2023 - - Cash runway projected into 2025 - REDWOOD CITY, Calif., Nov. 09, 2023 (GLOBE NEWSWIRE) -- Adverum Biotechnologies, Inc. (NASDAQ:ADVM), a clinical-stage company that aims to establish gene therapy as a new standard of car
REDWOOD CITY, Calif., Nov. 06, 2023 (GLOBE NEWSWIRE) -- Adverum Biotechnologies, Inc. (NASDAQ:ADVM), a clinical-stage company that aims to establish gene therapy as a new standard of care for highly prevalent ocular diseases, today announced the appointment of C. David Nicholson, Ph.D., as an independent member of its Board of Directors, effective November 3, 2023. Dr. Nicholson brings over forty years of pharmaceutical experience, a proven track record in drug development, and deep experience in ophthalmology, most recently as chief research and development officer at Allergan. "We are excited to welcome David to Adverum's Board of Directors. He brings an exceptional breadth of experie
REDWOOD CITY, Calif., Aug. 21, 2023 (GLOBE NEWSWIRE) -- Adverum Biotechnologies, Inc. (NASDAQ:ADVM), a clinical-stage company that aims to establish gene therapy as a new standard of care for highly prevalent ocular diseases, today announced that R. Andrew "Andy" Ramelmeier, Ph.D., has joined Adverum as the company's chief technology officer. Dr. Ramelmeier will serve as a member of Adverum's executive committee and will lead Adverum's technology and operations organization, including process development and assay development for Adverum's investigational gene therapy ixoberogene soroparvovec (Ixo-vec). Ixo-vec is currently being evaluated in the Phase 2 LUNA trial as a potential one-time
REDWOOD CITY, Calif., March 17, 2022 (GLOBE NEWSWIRE) -- Adverum Biotechnologies, Inc. (NASDAQ:ADVM), a clinical-stage gene therapy company targeting unmet medical needs in ocular and rare diseases, today announced the appointment of Rabia Gurses Ozden, M.D. and Soo J. Hong, M.B.A., as independent members of Adverum's Board of Directors. Dr. Ozden joins with two decades of experience in ophthalmology, clinical development and operations, pharmacovigilance, regulatory affairs and gene therapy. Ms. Hong brings a deep expertise in human capital management, executive and leadership development as well as executive and board compensation design and governance serving rapidly growing organizatio
- Dr. Beckman, a board-certified ophthalmologist, brings 30 years of experience in ophthalmology, drug development and retinal diseases including wet age-related macular degeneration - REDWOOD CITY, Calif., Feb. 07, 2022 (GLOBE NEWSWIRE) -- Adverum Biotechnologies, Inc. (NASDAQ:ADVM), a clinical-stage gene therapy company targeting unmet medical needs in ocular and rare diseases, today announced that Richard Beckman, M.D., has joined Adverum as the company's chief medical officer (CMO). Dr. Beckman will serve as a member of Adverum's executive committee and will report to Laurent Fischer, M.D., president and chief executive officer. Dr. Beckman will provide leadership for the company's gl